Considering the lot was just subdivided by the municipality into a R-1AA lot should I give them the 60 days? 

It is a 40,000 sq ft shopping center that has a vacant food lion(recenetly moved out grocery store), a family dollar, chinese food place, papa johns, nail salon and a H&R block.

That will run you $1 million + That area is great - close to central park, museums(kind of), and a lot of train stations(4,5,6, F, Q, N, R W).The area is kind of quiet compared to other areas in Manhattan.

You wont ever truly learn you r market reading a book or even researching on the computer.

@James R. - your long term capital gains tax will be 15% (assuming you are making less than half a million, otherwise it would be 20%) on the profits realized.

Thank you,Isabella R.

The rent roll will show you rents charged, unit numbers/sizes and lease term, but you really want to see the A/R report and each tenant’s rent ledger to get a true sense of what you’re dealing with. 

@Jonathan R McLaughlinThank you Jonathan.

@Andrew R., I'm probably missing a ton of information, but this doesn't make sense.  1) If you put a lien on the property and don't take title, then you're not actually buying the property.1a) I'm not sure how a 2nd position lien puts you in a better position according to the title company.2) The entire net proceeds of the sale should be with your qualified intermediary, not just what you think is the capital gains.

@Jonathan R McLaughlin thanks for clarification.